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tv   Your World With Neil Cavuto  FOX News  September 13, 2012 4:00pm-5:00pm EDT

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the dow, at least 10 years on the nasdaq. think of the fed easing this and the fed admits we cannot stop the unemployment numbers. neil cavuto brings us context. >>neil: thank you, we are on the stories in the middle east and the bailout in the united states and fox on top of the rumble and the rally. the state department is now warning travelers to be careful. this guy is all but telling investors to go crazy. it is a pressure cooker over there but if the markets are any indication because of bernanke, it is off to the races back here. today, we are all over the two worlds, two very different worlds, but, today, we explore how they are connected more than you know, these worlds, on "your
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world." >> wow, everyone. before we get to the markets, first the violence over there that is spreading fast and furious beyond there. in yemen hundreds of demonstrators storming the gates of embassy smashing windows and setting fires. in tunisia, anti-american protests holding up pictures of osama bin laden. they hate us. why is the anger here leveled at this guy? preparing to challenge the president's handling of this, the former white house chief of staff who said governor romney was right to speak up as he if. he got in a last trouble for that saying that it was unprecedented, you do not do this, at a time of war.
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what do you make of that? >>guest: well, first of all, governor romney has been a prudent leader if his rhetoric which has not been too hot. he is calling attention to a challenge that is a contrast between him and president obama. it is okay. he is not doing anything to undermine the president of the united states or to undermight the responsibility of bringing people to sanity around the world. governor romney is actually demonstrating responsible restraint and not trying to be part of a problem but, instead, suggesting solutions. i hope president obama has thicker skin than the demonstrators over the last 24 hours. >>neil: i hope the president has a good memory. this ring as bell from four years ago. react to this. >> george bush's wrongheaded decision to escalate the war, i am not persuaded that 20,000 additional troops in iraq is going to solve the sectarian
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violence. >> billions have been spent for us to trust the president on another tired and failed policy. >> as some point you have to knowledge the approach we are taking is not working and try a different approach. the president's attitude has been more of the same. >> we ended up, i think, misdirecting our resources. >> in afghanistan our situation has deteriorated and we had an attack on a u.s. embassy where nine servicemen were killed. >>neil: what do you think? >>guest: well, candidate obama, senator obama, he used hot rhetoric against the president. president bush was filled with resolve and he had the courage to do what he thought was right and he wasn't looking to gain favor at home. he was looking to do the right thing for the united states of america. he had thick skin. president bush was confident,
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quietly confident in his ability to make tough decisions. he had the courage to make tough decisions. he knew in would be flak. i don't think president obama should be as concerned as he demonstrated he was over the last 24 hours about the rhetoric. he will get a lost tough rhetoric. >>neil: i think you are right. i did not have a problem back then with candidate obama saying this in the middle of a war. it bugged a lot problem. nor do i have a problem with mitt romney saying this. that is what we have in this country, a difference of opinion. that is what we relish. you have to pick and choose your rage, here, selectively but i wonder, back to this president's point, now, at this time in the middle east we could be sending mixed messages. does that apply? >>guest: well, the mixed
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messages, that is, who are our allies in people looking for direction from the united states of america, i reflect back on the speech that dr. condoleeza rice gave at the convention saying what do we stand? where do you stand, mr. president? that is what people around the world are asking. i do believe diplomacy requires restraint. we should listen and we should learn. i depend greatly on the work done by our intelligence community to better understand what is happening in our diplomats to map solutions that make sense. the world wants do know where america stands. >>neil: always a pleasure, andy card. thank god for bernanke, love him or hate him, the only dude in washington who appears to be getting anything done not that rescuing markets with tens of billions of artificial stimulus, is necessarily heroric. some argue longer term potential
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it is making another bubble but as we report, investors like it. look at the markets. they loved it. now, what to expect? >> quite a day for the stock market after the announcement, stocks soaring after the fed went for another round, a third round of bond buying, a foam of stimulus, to boost economic growth. stocks surged to multiyear highs with the dow and s&p 500, and the dow jumping up to 239 points in afternoon trading and investors are encouraged by the news intended to lower borrowing costs and encourage consumer spending. the central bank said they would purchase $40 billion of mortgage-backed securities each month until the labor market improved. the fed also said they would likely keep the fed fund rate near zero through the middle of 2015. but some are questioning the long-term impact of such a move by the fed, with the biggest concern inflation, under the current low interest rate policy after two rounds of bond buying,
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gas prices have more than doubled since president obama took office. oil prices have spiked. they rose today to over $98 a barrel. food prices have also skyrocketed. everything from eggs to butter, coffee, and beef, and governor romney has weighed in on this showing concerns about the policy saying he would replace bernanke if he is elected. >> my view has been that i would want to select someone who was a new member, excuse me, a new person to that position. someone who shares my economic views. >>reporter: investors are happy now as the 200-point gain in the stock market saying buying up billions means more economic activity by lowering borrowing costs despite the fact that interest rates have already been near zero for quite some time. >>neil: thank you, sandra.
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think about what these guys are doing: this bearded guy, bernanke, orchestrating another one of the quantitative easing events. like sandra said, coming in and promising to keep interest rates very, very low by buying darn near any treasury note and bond they can get their hands on. that is good for low rates and good for free markets. there is one little problem, though, they are not free markets. my guest says not when they march on the bailouts for themselves. it is weird, gary. >>guest: i look at this as a manipulation. i own gold and silver and i own financials and i own housing, i own the marks so i am happy in the near term but in the longer term, when the next president has to wake up one day and call
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volcker because the inflation is out of hand. when you print all this money and the assets are fixed, the asset prices are going to go up and that is why you see oil prices doing what they do and commodity prices doing what they do. bernanke can talk until he is blue in the face about employment, he cares eight bout the market and in jackson hole he speaks about his moves have made the markets go up but we will have some worries in the long run and it will be the word "inflation." i know i will get e-mails with people yelling and screaming but i am worried about down the road. remember in 2006 and 2007 everything was great and then a housing bubble, and look what happened. that is what the fed is good at, doing the same thing again to create another bubble. >>neil: a lot of folks will say, look at fox trying to do you know what with the good
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news. we are trying to warn people that you are setting a dangerous resident. i don't fault bernanke for trying to be the only guy in washington trying to get something done but i am not happy with the way he is doing it because i agree, when you promise to keep interest rates let for the next three years in the face of the rising commodity prices, you all but set your sell up for a nasty surprise, right? >>guest: remember, we are not in a depression or recession. g.d.p. is higher. the end of the world is not here. yet, not only do we have zero percent interest but the printing of trillions. we have never experienced anything like this. so, we don't know what the outcome is. >>neil: you can argue, look, there hasn't been any problem. we have not seen inflation come roaring back, at least to the degree you and others have feared. that could be one of the
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indicating for godot things but bernanke seemed to say, do i look worried about the inflation? the weak economy trumps all and that is what is being addressed. >>guest: let me say i hope i'm wrong. realize this: he wanted to get unemployment better. that is what he says the mandate s employment will not get better because all the commodity prices going up so costs of goods are going up so profits come down so that means hiring is down. he is doing the exact. the other point i want do make, easy monetary policy over the last 12 years created in my opinion, an internet and nasdaq bubble that dropped 80 percent and now we have the housing bubble with the market dropping 56 percent and housing was destroyed. those things did not happen without easy monetary policy and now the fed has taken it to the umpteenth power. it is not like lower rates smear there but we are talking about
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printing trillions and i don't know how you take it back when all is said and done. i hope i am wrong. but when we see goal at $2,500 the market will speak up and paul volcker will be front and center on the cover of the newspaper. >>neil: and i will be like, 112 years old. >> back to this. i was making regrets on the question. >> even the tone. ♪ [ female announcer ] life is full of little tests, but bounty basic can handle them. in this lab demo, bounty basic is stronger than the leading bargain brand. everyday life. bring it with affordably priced bounty basic.
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>> your question. >> your question. >> or the tone? >>neil: that preceded this. >> toughly worked statement. do you regret the tone given what we know now? >> do you think coming so soon after the events had unfolded over night was appropriate to weigh in on this in. >> the world is watching. is this a mixed signal when you criticize the administration at a time the americans are --. >> governor, did you jump the gun putting that statement out last night? should you have waited in more details were available? do you regret having that statement come out so early before we learned about the things that were happening?
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>>neil: and my guest was watching this and not surprised. tim? >>guest: you put that, that is what we saw on the newscast. cnn asked the same question, 81 times or something, this is what they did last night on the evening news, we got about den minutes on the three evening newscasts devoted to how romney must have made a mistake. we gated 25 seconds from jake tapper where they asked the question that if we had a nonpartisan good government press what would they ask? what is wrong with the state our security? that is a question we duty have asked but instead these people who are all accusing romney of politicizing this issue, they have done nothing over the last few hours but politicize the issue. they are pathetic pack of politicizers. >>neil: i am not surprised
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when journalists are better, and the whole line of questioning was of the gotcha regard right and maybe there was the same comparison with candidates four years ago who were questioning the war in iraq or four years prior, with john kerry, questioning the wisdom of the war in iraq, and there obviously was a bigger, larger struggle and a lot more people with lives online and more people's lives lost, i am just saying, we should be consistent. i am saying that there is nothing wrong with a reporter before a press conference saying, i'm going do ask this so you know you can ask this. but what they really did was try to line up and ask the same question 18 times. that does not serve the public. the public wants answers much it does not want this. this is an interrogation. it was like a waterboarding. the sad thing about this, president obama does an interview with "60 minutes," and
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he is asked, does romney screw this up. obama has not had a press conference since june so this is what is really sad. on some level, romney is getting pounded as if he were the incumbent president and obama is still hope and change running around being a save your on the stump. >>neil: what stood out to me is it was, the message was that romney was playing politics and the president was being asked about that on the way to a campaign fundraiser. be that as it may, i am wondering how a challenger responds to the constantly escalating and always getting hotter, international developments. does he it is on his hands and watch? he cannot do that, right? >>guest: no, and a lot of republicans across the country want romney to go after obama's foreign policy moves because the
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news media will not. their resistance to mitt romney is we do not want to discuss this or talk about ft. hood or talk about his failures in the war on terror. we do not want to acknowledge there is such a thing as the war on terror. we need a news media that actually asks questions of obama. obama probably gets tougher questions from his daughter's at the supper table than he is getting from steve cross on cbs. >>neil: but they are all fair questions to both. thank you very much, tim, good to see you. how do you think ann romney things her husband has been treated and portrayed? i will get a chance to ask her. she is my special guest here and only here on fox news channel and on fox business network. ann romney sits down with an exclusive, and her take on this as the campaign heats up and the rhetoric heats up and the
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nastiness heats up. ann romney with me tomorrow. >> are conservatives about to cave a vote on $1 trillion spending bill just minutes ago. congresswoman michele bachmann is here next.
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...>>neil: in press conferences from the president but he spoke at a campaign rally in colorado. >>reporter: one day after the president used the interview with cbs to say that mitt romney shoots first and aims later, today, he got into trouble because the president had done an interview with a spanish magazine saying that egypt is in longer an ally which sounded like a solicit in u.s. policy
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because it has been officially an ally by u.s. law going back to the 1980's. carney today told reporters and this is a term of art, whether you are an ally or not and since we do not have a mutual defense treaty with egypt it is not an ally not sitting well at the state department briefing where officials were pressed on this because israel is in the same position. does that mean israel is not an ally? the state department spokeswoman said, yes, egypt is a non-nato ally with the united states so this mixed message today put the president a little bit on defense after he had mitt romney on defense on the middle east issue. what the president is trying to do in come come was to start them off with a serious note and, again, reiterating that the killers of the four americans was brought do justice. listen to the president. >> i want people around the world to hear me, to all those
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who would do us harm, no act of terror will go unpunished, it will not dim the lights of the value that we proudly present to the rest of the world, no act of violence shakes the resolve of the united states of america. but pressure on the president as you see the violent protests spread to other countries like yemen where the u.s. embassy was stormed today with pressure to cut off the over $1 billion a year if aid that goes to egypt but, today, white house officials are saying the president has for plans to cut off that aid. >> thank you, ed. to the hill, a look at the house floor, minutes away from voting on what amounts to a six month spending bill. included in that is continued aid to libya. will my next guest back it in republican congressman, michele bachmann. which way are you going?
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>>guest: i will not be able to give support for this bill today. >>neil: why not? >>guest: i cannot give support for it because we are at a very difficult time in our nation's history financially and unfortunately this has become the new normal. we pass a continuing resolution and it is a piecemeal way. we are not doing budgets. the senate has not for three years. we are at a point, each day, taking on a lot of water, $4 billion in debt i cannot do it. this is reality. we saw that the fed issued a qe3 today and what this will mean down the road is a lot of trouble because economies do recover. when the economy does report this will mean that interest rates will spike higher than they would, they will go up but they will spike more than they would. this is not a good way to go. i was the only member of congress a year ago that said that we should not raise the debt ceiling we need to do our
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work now. we have to get behind closed doors and do entitlement reform. that is not casting asperges on any other colleague here but it is to say we really truly are broken. and broke. >>neil: but a lost your conservative colleagues may agree but they are voting for this the same. what happened to their backbone? >>guest: they are good people. good men. good women. >>neil: what happened? feeling political pressure? what? >>guest: they are feeling they do not want to have a lame duck session so they want to make sure under no circumstances do we have lame duck they want to push this six months down the road avoid that. i understand that. i agree with that line of thing. but i cannot go and continue to see the united states go $4 billion in debt each day. i cannot do that to my kids or yours. it is unconscionable we are
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putting ourselves in bankruptcy quicker than anyone dares to realize. >>neil: what i fine remarkable, and we have chaletted -- chatted by this, so many of your conservatives have been cowed by moody's downgrading and, maybe, they have been pummeled into silence by house leadership that, look, go with the flow, we will see if we get mitt romney elected and we will see if we get the senate, we will see if we get a majority in the house and that is what we hanging our hat on. you are saying do not hang your hat on it? >>guest: and moodies is saying to us they want us to have a plan of debt reduction. i don't see a plan of dead reduction. that is what i want. i love balanced budgets. we are not getting one. we are not getting close to that here. i am a former federal tax lawyer and a businesswoman myself, and i am extremely neither rouse about where our economy is at.
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i don't see this is the answer. i agree on pushing this out of the lame duck. i get that. but this is a very serious time. we are sent here to do a job but unfortunately harry reid has not been willing to cooperate. my vote says, no more debt. i cannot do it. >>neil: when you hear the republicans concerned about the distraction and how they will suffer at the polls if it looks like they are threatening another government shut down you say more harm will come if they punt on this. >>guest: no, i am not saying that. everyone has to make their own political calculation about what will happen with government shut down. >>neil: that is the political calculation they have made. >>guest: that is a calculation. my calculation is math. we heard bill clinton talk about that. the arithemetic doesn't add up for anyone. certainly not even my own generation and i am 56 years
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ode. we are looking at impending bankruptcy. the game does end when you spend too much money and it isn't pretty when it comes to the united states. it does not end well on a personal level or business level but the largest economy in the world when you continue to overspend like this, it is the old adage, the bigger they are the harder they fall. we have to stop playing political games and get serious and do what we are expected. that is, get our balance in budget. >> you are looking live as the protests condition. is our debt putting us in real danger? you heard from the congresswoman, fair and balanced, and democratic congress member charlie rangel. staying active can actually ease arthritis sympto.
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cairo up on balconies you can smell it. it is over powering. look at the live pictures and you can see the walls of tear gas and the roles of the rubber bullets coming out from the egyptian military protecting the u.s. embassy compound. you get an idea how angry the crowd must be to continue going in and in and in against the counter attacks by the generation military with hundreds injured in cairo in the past 48 hours with the crowds growing larger and larger. so far, today, the crowd has not been allowed to get into the perimeter as it did on tuesday whether that is by design or whether the jeep -- egyptian army decided on that own, that is the question. a million man march is called by the muslim brotherhood against the movie on the prophet mohammed which is on their mines
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anti-american sentiment, and a pro islam sentiment. the chant is "we sacrifice our soul, our blood, for you our prophet," and people are sacrificing a lot of blood in cairo and it will grow larger the continuing days and continuing with violence tonight. >>neil: be safe, leland, thank you very much, from cairo. from mounting violence over there to a growing threat over here as how lawmakers okay more spending today has my next guest worrying about this. congressman, always good do have you. >>guest: good to be with you. >>neil: is this libya funding the additional funding they are requesting, participate of this, do you know? >>guest: it does not include it in the cr but whatever funds we already have allocated for the state, whatever need for them, that will not be in
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jeopardy at all. but one thing if you are talking about the cr and it is my understanding that is what you are talking about today, it is out here to avoid a train wreck for this country. i am amayd there is not more outrage and concern about americans out there. it is one thing to say that the congress is not held in good favor but another thing to talk about the failure of the united states to pay its debts. >>neil: you think that is what is at stake here, moodies and the threat to downgrade has to do with making sure you run these things on time, nothing to do with the fact what budgets you have created, although there has not been one for these years, we are deeper in the hole. what is causing the credit guys the angst? >>guest: the appearance, which in my opinion is true, the
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congress is not working with any type of unity to take care of the u.s. government fiscal responsibility. the whole idea that we can have a $6 trillion indebtedness and the fact we are paying hundreds of billions in interest and we cannot come together to deal with question of taxation and spending? and the fact that the parties are pulled apart, anyone looking at the united states of america with all of its greatness and with all of the dependence and stability in the world and see that republicans and democrats cannot come together in order to agree on a budget? this is something wrong here. i never thought in my life that partisan politic would enter gear with a president being able to get permission to wave the debt ceiling.
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>>neil: congressman both parties play this game. if you are appalled, not getting a budget in three years could be something you would share your concern about but i understand your concern. >> both parties, both parties --. >>neil: yes, both parties are to blame. i want to ask you this, sir: do you think we will avoid a government shut down? is it your feeling we will avoid that? or are we look at one? >>guest: of course we will avoid it. republicans and democrats are scared to death they will be kicked out. they are not prepared to blame democrat or republican but the congress. that is why we have the extension to pass it over until after the election. why do you think we are doing it? i thought it was to seven the people.
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>> no, no, no, let me make it clear and no democrat or republican is going to deny that, somehow we are brain washed that our re-election is the only priority we have and truly that is unfortunate. >> the congressman will approve $20 million more to libya after this, to the lawmaker saying "hell no." ..
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>>neil: paul ryan entering the house chamber to a vote on a continuing resolution he will vote "yeah," the moments i miss because at republican national convention i had the exclusive one-on-one with paul ryan, remember that 22-second exclusive interview? i was denied that here. and now, a republican congressman from california, how will you vote on this? part of it, i understand, we goo back and forth, the libyan
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funding for $20 million is part of this. what are you going to do? >>guest: i will vote no. it sends the wrong message 48 hours after the atrocities in benghazi and key provide for the congress to approve a bill that does not include specific prohibitions against funding to the countries. we are continuing exactly the same feckless message of declining superpower this we have been protecting town that region since obama's disgraceful cairo speech in 2009. >>neil: i was with john mccain yesterday and he said we have to be very careful here say we do not want to cut off our nose to spite other face because a lot of moderate elements will be hurt by denying our funding. >>guest: they are in a distinct minority. the fact is it is insane for the united states to spend money that it doesn't have, borrowing it from china, in order to give to countries that have fallen to islamic extremist, and have been
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very clear in their intent to use that money to attack america, american citizens, american interests, and american allies. >>neil: we are getting indications that paul ryan will vote for this continuing resolution. what do you think 1/2? >>guest: i have enormous respect for paul ryan having served with him for two years on the budget committee and he is the future of america. >>neil: but the future of america because he wants to rein in spending is he doing something, as michele bachmann pointed out, ising greekous -- is egregious to her, and she does not want do sign on, where is the spending resolve? >>guest: i am sorry? >>neil: the pending resolve. why do not more share your view. >>guest: well, i cannot speak for others. what i can tell you there are honest disagreements over the basketball path to bring spending back under control. paul ryan is the author of the
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only budget plan that actually will bring spending back under control, that the house of representatives has passed last year and again this year, that will ultimately retire the national debt and allow today's college seniors to retire into a prosperous and debt-free america. unfortunately, that was stop dead in the senate. paul ryan made an enormous contribution to that effort. i greatly respect him. but with all respect, i differ with him on this vote. >>neil: i understood that. thank you. back to this middle east message. people think, well, this does not affect me at all. take a look at the gas pump. very soon.
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>>neil: oil prices jumping $1.30 a day. fears of gas spikes because last year during the arab spring they jumped 29 percent to just shy of $4 a gallon and my next guest worries it is history repeating itself. what do you think? >> getting worse. we are seeing the powder keg in the middle east and the tragic death in libya of the arch -- ambassador stevens making the whole region unstable and that makes crude prices rise along with the ned's -- fed's goodie bag of tricks. i just filled up on the way over and it was over $4 a gallon. >>neil: the moderates that protested the protesters, unfortunately, they are in the
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minority, so, that is what worries him, the growing scene in the middle east, and i imagine that is what worries guys like you. >>guest: it does. the militant strength in all countries including places like nigeria, the choke points for oil, are a big concern to all of us as consumers in america. we are so dependent on the crude oil. for the election the real subject is when do we start working on the natural gas supplies at home so we cannot be so afraid of the problems in the middle east that are ongoing. >>neil: up like the arab spring, it is thought this will stabilize but this looks to be falling apart or are we overreacting? >>guest: well, i don't think we really know. with a couple warships steaming over there now, what message is being sent? are we sending more money to libya now after this incident? the arch was -- the ambassador
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was killed. why know if we know how it will play out, the overall stability will be, how opec will respond. no one knows what will happen. oil prices keep ratcheting up at a terrible time for consumers. >>neil: so, if we are $3.99 as the average we hit last time, what do you think this time? >>guest: well, this kind of settlement, the instability continues, we could see prices go up another 20 or 25 cents at gas pump and we will have higher heating oil prices, everything that is bad if consumers and the energy costs trickle downhill and adds cost to the food and groceries. it is unfortunate. >>neil: thank you, kevin, i think. still outraged over mit my's comments he almost stopped campaigning. we all know what he said.
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are is the media focus on what this guy did? . ♪
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only from the postal service. ♪ ♪ >> let me figure this out. mitt romney is campaigning when he dares to criticize the president and the handling of latest mideast violence but the president is not when he challenges or comments on the remarks on the way to a campaign fundraiser. the president can raise cash but mitt romney can't raise concerns. the president is outrageed and properly focused to deal with the crisis, but not outraged enough he can't campaign in the middle of the crisis. i don't fault the president to do what he those do, he is running for re-election but hardly the one to stap on shoulders of angels. if memory serves me right, senator obama then ripped president bush in the mistaken
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war in iraq. we were still warring in iraq. four years earlier, so did john kerry. this is hardly knew. getting sanctimonious about it. republicans didn't like it when democrats did. they'm sure the democrats are no fans of republicans doing it now. that is politics. this is rage is politics, too. i'll say this, as jimmy carter. when he claimed the iranian hostage crisis kept him hunkered down in white house and couldn't do anything else, he really was hunkered in the white house, and not doing anything else. i don't know what he doing in there. kennedy was iing to debate him and reagan was iing and eager to debate him. but carter remained are you collusive. only one debate that year. true to his word or maybe true to avoiding appearing less than presidential. but the strategy didn't work out well for carter, which might be while barack obama isn't exactly copying it. saying you are all consumed in the mideast crisis but not so
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consumed you are actually to be consumed 24/7 at the white house to deal with it. i've had enough of it. white house that dares to call mitt romney opportunenistic and the same time passing up an in-person chat with israel prime minister, at least to me seems idiotic. i am wondering, after the first lady saying that american is greatest threat to our national security. not mentioning violent bombs, attacking might be right now slightly more urgent threat to our national security. that is where it's at. all right. well, her husband is under attack for criticizing the white house response to the violent attacks, and the u.s. interest in the middle east. now ann romney is speaking


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